XPO Logistics Is Close To Breakout After Bullish Outlook

Trucking logistics outfit XPO Logistics (XPO) was close to breaking out of a cup base Tuesday after the company offered an upbeat outlook on the rest of 2017 as well as 2018.

Shares climbed 2.6% to close at 49.06 on the stock market today, closing in on a 49.96 buy point of a cup base begun in December.

In an investor update filed Tuesday in relation to a conference presentation, XPO said it was "on track" to reach this year's and next year's targets for EBITDA, or earnings before interest, taxes, depreciation and amortization. XPO said it expects its adjusted EBITDA growth to outpace any of its rivals over that time.

The company said that 63% of Fortune 100 companies did business with it. In the investor update, XPO also said it was the biggest "outsourced e-fulfillment provider in Europe, and a significant e-commerce player in North America."

Before the cup-base formation, the stock cleared a consolidation in November and a double-bottom base in August. Buying XPO on pullbacks to its 50-day line, however, have been occasionally more effective than on traditional buy points.

C.H. Robinson (CHRW), another player in the transportation logistics business, ticked up 0.3% to 77.20. That stock was close to breaking out of a flat base late last month. It has retreated since then and recovered somewhat.

Transportation service provider YRC Worldwide (YRCW) slipped by 8 cents to 13.25, while Saia (SAIA) lost 2.5% to 47.60.

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